This research is aimed at analysing the influence of monetary instruments which consists of certain variables; money supply, income per capita, and velocity of money toward the demand of electronic money in Indonesia. The type of the research is quantitative research using data time series during period of January 2013 – December 2016. The compiled data was secondary data gathered monthly from the official website of Bank Indonesia and Central Bureau of Statistics. Whereas the analysis tools used was Eviews7 with Vector Error Correction Model (VECM) method. The result indicated that generally, money supply, income per capita, and velocity of money give significant influence toward the demand of electronic money in Indonesia. Contribution aroused due to the shock on the speed of the velocity of money is considerably little to be compared with the amount of money supply and income per capita.